Emerging market demand was the main cause of the post-2005 increase in metal and energy prices. But, contrary to conventional wisdom, it did not play a key role in the parallel spike in food prices.

Though the U.S.-Brazil agreement on cotton subsidies prevented a damaging “trade war,” it nonetheless exposed the limitations of the current WTO dispute settlement system.

Despite significant barriers to trade in cotton, the issue failed to garner serious attention at last year’s WTO trade ministers meeting. Representatives from the U.S. and Africa’s four major cotton producers discuss the challenges facing this issue.